HomeCoinsEthereum (ETH)R3’s public Corda Network gets its first token ‘XDC’ for DeFi and...

R3’s public Corda Network gets its first token ‘XDC’ for DeFi and CBDC projects

- Advertisement -


Cordite Society, a co-operative society registered in the U.K., has launched “XDC” — the first token built on R3’s public Corda Network.

XDC is designed to meet requirements of decentralized finance (DeFi) projects, as well as stablecoins and central bank digital currencies (CBDCs), Cordite Society said in a release shared with The Block on Tuesday.

XDC is an “Exchange Token as defined by the UK’s FCA guidance as a ‘means of exchange… a decentralized tool for buying and selling goods and services without traditional intermediaries,” according to its whitepaper. Cordite Society said XDC meets the G20-sanctioned Financial Action Task Force (FATF) standards on digital assets to mitigate anti-money laundering (AML) risks — a challenge that Ethereum-based DeFi projects continue to be unable to address.

“As financial institutions look to build digital security platforms for digital security issuance, trading, settlement, custody within the Corda ecosystem, they can leverage the Cordite codebase to create their own digital assets in an institutional-grade, enterprise-ready and regulatory friendly framework,” a spokesperson for Cordite Society told The Block.

As for DeFi, they can build decentralized exchanges similar to Uniswap, said Cordite Society. “Projects can not only comply with AML/CTF standards but ensure transactions are kept private between parties which is a requirement in most commercial and financial settings,” said the co-operative society.

BCB Prime Services, Europe’s crypto payment services provider that works with Coinbase, Galaxy and Kraken, will provide over-the-counter liquidity and custody services for XDC.

© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.



Source link

- Advertisement -
profile logo 500x500
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
462FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,451FollowersFollow
2,230SubscribersSubscribe

Most Popular

bitcoin
Bitcoin (BTC) $ 39,676.00
ethereum
Ethereum (ETH) $ 2,284.70
tether
Tether (USDT) $ 0.996537
bitcoin-cash
Bitcoin Cash (BCH) $ 504.55
litecoin
Litecoin (LTC) $ 136.81
eos
EOS (EOS) $ 3.85
okb
OKB (OKB) $ 17.90
tezos
Tezos (XTZ) $ 2.81
leo-token
LEO Token (LEO) $ 2.74
cardano
Cardano (ADA) $ 1.28
monero
Monero (XMR) $ 226.35
stellar
Stellar (XLM) $ 0.271967
chainlink
Chainlink (LINK) $ 19.08
huobi-token
Huobi Token (HT) $ 11.02
tron
TRON (TRX) $ 0.060278
usd-coin
USD Coin (USDC) $ 0.998675
dash
Dash (DASH) $ 152.46
neo
NEO (NEO) $ 33.86
iota
IOTA (MIOTA) $ 0.829780
nem
NEM (XEM) $ 0.158577
zcash
Zcash (ZEC) $ 103.11
maker
Maker (MKR) $ 2,657.01
paxos-standard
Paxos Standard (PAX) $ 0.996973
ethereum-classic
Ethereum Classic (ETC) $ 49.00
vechain
VeChain (VET) $ 0.082249
true-usd
TrueUSD (TUSD) $ 0.995594
ftx-token
FTX Token (FTT) $ 31.59
kucoin-shares
KuCoin Token (KCS) $ 9.60
waves
Waves (WAVES) $ 16.55